Kwikrink news

Most people mistakenly believe it takes millions of dollars to open and run their own business. While you certainly can spend as much money as you want building and operating a new organization, it’s just as easy to launch a business with low start-up costs and a fun operations model, like a synthetic ice rink rent business.

With hockey programming on the rise nation-wide, a portable synthetic ice rink in your community can offer a turn-key avenue to year-round hockey training and a reliable revenue stream.

Your business ownership adventure begins with an expertly crafted business plan. Let’s break down how to write one that helps you launch your synthetic ice rink rent service with confidence.

KwikRink Synthetic Ice offers a versatile, low-maintenance, all-weather ice product customized to any space and size. Visit our website today for a free rink analysis and quote. We’ll help you build a profitable rink rental business with superior products and support.

Start at the end and work your way backward

An effective business plan begins with a comprehensive executive summary. You’ll write a bird’s eye view of what your business will look like in the first few years of operation.

However, this section of your business plan is the last step to complete. There’s a bit of groundwork to tackle before you can “tell the story” of your business in a captivating way.

Instead, start with the following elements, and compile them as you go:

Market research: What is the potential demand for synthetic ice rink rent in your community? You’ll want to check out existing family, youth, and adult programming at churches, community centers, schools, and other gathering places to determine if there’s a programming gap your synthetic ice rink can fill.

the youth birthday party market where you live. A synthetic rink can be a unique event idea for more than just hockey programs.

Do your diligence to clarify all the places where your rink can service your local population.

Competition: Are there any other skating programs in your area? This may be more of a concern if you live in snowy places where skating is the norm. If you live in a warmer climate, you may not have as many skating programs competing for a share of the local market.

Capital purchase: the rink, fencing, and other equipment like skates, hockey sticks, protective gear, mats, and anything else you’ll be offering as part of your rink rental service. At KwikRink, we can kit you out like the pro you are so your service stands out as professional and comprehensive.

Insurance: A small business owner needs a couple of policies in place for complete peace of mind. Consider getting a property policy which protects your rink and equipment from damages, disasters like weather or fire, and theft. You will also need a liability policy to protect you in the event of a lawsuit from someone getting hurt while on your rink or using your equipment.

Monthly fixed and variable costs: If you rent a storage space for your rink tiles, that’s an example of a fixed monthly cost. If you hire other people to help you install and tear down your rink at different venues, those could be variable costs depending on how much labor you need for each rental gig. Brainstorm all the regular costs associated with running your rink rental service, and compile them in your business plan.

Financing: How will you raise the money to start your rink rental business? There are several options for getting start-up cash:

Personal savings

Small business loans: Check your local Small Business Association or your bank for more information on financing for small businesses. Some cities and regions have additional financing resources for minority owners in many demographics.

Business lines of credit: This is essentially a credit card dedicated for business expenses.

Crowdfunding: Using a website like gofundme.com can help you create campaigns to raise money for specific projects related to your rink rental business. You can get super creative on your fundraising goals and how to ask for and incentivize various levels of giving. For example, if a donor gives several hundred dollars to your campaign, perhaps you reward them with a free ice skating party for their family and friends.

Cash flow: Now we get to the good part, which is making money. What’s your plan for generating revenue once you have your rink? How much will you charge for your services? Your ability to generate rental gigs and profits will depend on several factors:

Pricing your services wisely (making sure you charge enough to balance your costs and have a healthy profit margin while not being too expensive that customers can’t afford you.)

You’ll need to have a solid strategy in place for at least 12 months of marketing and revenue forecasting. It’s a good idea to include a best- and worst-case scenario in your business plan and how you’ll manage each of them, knowing that your actual results will likely fall in the middle of the two.

Pull it all together

Now that you’ve done all your homework, you can compile your executive summary. Tell the story of your synthetic rink rental business.

Detail what it is, why you’re launching it, what your needs are financially and physically, as well as how you plan to finance your start-up and begin to generate revenue, and eventually, profit.

KwikRink Synthetic Ice is your partner in innovative small business operations. Our professional staff provides an expert resource as you gear up to offer expanded, all-weather skating in your community.

We’ll help you design your rental rink for the highest functionality and convenience, as well as years of low-maintenance reliability in our synthetic ice products. Call us today to help launch your, ahem, “leading-edge” rink rental service.

Getting people to come to you is a challenge when just about every shopping and retail activity can be done online. But nothing can beat the atmosphere of a thriving, people-centric shopping mall, where visitors can shop, relax, converse, eat and drink, and enjoy leisure activities. Why not check out the synthetic ice rink rent options from KwikRink, and provide your customers with an experience they can’t get from behind a keyboard.

Malls in decline across the United States

If you are concerned that it’s just your local mall or shopping center where through traffic is slow, don’t worry – yours is not unique. Across the US, thousands of retailers closed their doors in 2019, and malls are looking for other ways to enhance through traffic. Discounts and special deals can only go so far, though, and so mall owners are looking at innovative means to bring customers away from their keyboards and inside the brick-and-mortar stores.

Why do people visit malls?

The beauty of shopping malls has always been the ability to bring a range of venues together under one roof. If you wanted to buy equipment for a camping trip, for example, you could visit this store for tents, the one next door to it for camping clothing, and the one just a few shops away for camping snacks. And even though the competition is always a factor, that wouldn’t necessarily stop the salespeople in one store recommending that you check out another in the mall for equipment that you might need and that this store didn’t carry.

Never underestimate the social experience of visiting the mall. Malls offer more than just multiple shopping venues in a small, contained area. Most also offer the likes of food halls, coffee shops, and leisure activities like movie complexes, meaning that you always had something to do once you had finished your shopping.

The atmosphere in a mall is another popular selling feature. Think about the last time you visited the mall during a holiday season. Chances are you heard festive music playing and could smell the aroma of delicious holiday-type snacks – sensory experiences that no keyboard shopping experience could match.

What is keeping customers from physically visiting these stores?

The ease of online shopping, and the sheer availability of just about any product, from anywhere, is both a blessing and a curse to the American consumer. It takes only a few minutes to think about a product need, research where to buy it, how much, who is offering it at the best price, and most crucially, whether it can be delivered. With this type of near-instantaneous ability to satisfy almost any consumer’s need or desire, it’s little wonder that stores are struggling to compete.

Does this mean the end for retailers who don’t have an online store?

It doesn’t have to be. Your customers are still there, but to get them to leave their keyboards and visit you in person, you need to have a hook. And that’s why you have to offer them something that an online store can’t.

What can retailers do about the declining numbers?

A visit to the mall needs to be more than just a shopping experience because, as we know, most goods can be purchased online. So if you want to attract customers to a physical store, the best way to do so is to enhance the services the mall offers. Once customers are physically at the mall, they can shop all they want.

So what kind of services?

We are a nation of people who value leisure activities, but no one said that we could only do these in or around the home. We go to movies, we visit gyms, and we play sports. And we love any sort of sporting or leisure activity that we can do all year round, and at practically any age.

What activities are thriving in the US

When it comes to sports, we are a nation of people who enjoy both watching and participating in sports. While nothing can knock American football or baseball off the top of the popular list, coming in the top five is ice hockey, a game in which we excel. And thanks to the development of synthetic ice-skating rinks, we no longer have to wait until the right time of the year to get in practice.

Is ice skating really that popular?

It doesn’t matter if you want to skate for fun, for fitness, to play for the national league, or to qualify for the Winter Olympics. Ice skating is one of the most popular sporting activities in the United States, with an estimated 10 million people enjoying a regular glide. Skating is a hobby the entire family can enjoy, all year round as long as there is a suitable rink nearby.

So why bring rinks into shopping malls or town centers? We want people to shop, not skate!

Sounds like an expensive option

A synthetic ice-skating rink is easy to install, low on maintenance cost, and can be tailored to your specific needs. It doesn’t matter if you want to create a temporary rink for a special occasion or have it as a permanent feature. Our products are safety-tested, and we are continually looking for ways to improve your customers’ skating experience.

We don’t have space

Sure you do. Rinks don’t have to be enormous to attract customers. Turn a misfortune around by utilizing space where shops have had to close and build your rink there.

Put an end to the decline

Investing in your customers’ health and happiness is an investment in your business future. So get in touch with KwikRink to find out how you can turn that unused space into a valued addition to your shopping mall.